jersey777
Veteran
- May 24, 2006
- 627
- 73
The worthless union traded most of the profit sharing for the current bankruptcy agreement. AA offered 15% of first dollar profits, pilots traded away 10% for slightly higher pay and thanks to the me-too provisions, everyone else only got 5% of first dollar profits. I believe that the pilots also gave away their 5% for their MOU. So the AA unions, including the worthless union, give away any potential to share if things turn out profitably.
Meanwhile, over at DL, the employees will share $372 million in profit sharing plus $91 million in "Shared Rewards" (monthly/quarterly performance goal rewards) for a total of $463 million. According to WT, the profit sharing portion equals a bonus of more than 6% of Delta's W-2 wages.
Once you guys vote out the TWU and vote in AMFA, perhaps some competent negotiators will reclaim some industry-leading profit sharing.
Not so sure how much the profit sharing was worth. I think the TWU along with the APFA were sold on profit sharing which was alledged to be up to 5% of salary but yet was 5% of a fund put into profit sharing which equaled about $800 per person on a billion dollars profit.....look it up.